The President of the World Bank Group, David Malpass (pictured), has urged G-20 countries to suspend bilateral debt repayment for the poorest countries. The announcement was made on March 23 during the G20 Finance Ministers' Conference on the Covid-19.
“The Coronavirus crisis will likely hit hardest against the poorest and most vulnerable countries. Many were already in a difficult debt situation, leaving no space for an appropriate health and economic response [...] however, we cannot have IDA resources go to pay creditors,” he said, urging the Group of Twenty to act with immediate effect to allow the poorest to concentrate their resources on fighting the pandemic.
“I’m calling on the G20 leaders to allow the poorest countries to suspend all repayments of official bilateral credit, until the World Bank and the IMF (International Monetary Fund) have made a full assessment of their reconstruction and financing needs,” the World Bank’s President concluded.
André Chadrak
South Africa led with 35% of total deal value, ahead of Kenya and Egypt Inbound deal value ro...
Safran invests €280m to build one of the world's largest landing gear plants in Morocco, crea...
Industrial, jewelry and silverware demand expected to decline in 2026. Physical investment ...
This week in Africa, Africa CDC is stepping up its drive for health sovereignty, building new partne...
Global South Utilities (GSU) has begun building a 5 MWp hybrid solar plant with 5 MWh battery st...
Global natural rubber market seen 400,000-ton deficit in 2026 Production 15.2 million tons, demand 15.6 million tons Supply gap expected to keep...
Como em muitos países africanos, as autoridades da RDC apostam na transformação digital para apoiar o desenvolvimento socioeconômico. Elas contam, em...
Initiative targets 100 African AI deployments by 2030 Focus on multilingual, low-bandwidth AI for key sectors Kenya, India and Italy on Thursday...
Gabon’s Owendo gas plant planned at 225 MW by 2028 Capacity raised from earlier 120–125 MW projections Project aims to ease Libreville’s power...
The University of Lomé on Wednesday opened a fossil and rock exhibition hall showcasing specimens from the country’s coastal sedimentary basin. Led by the...
Senegal, Morocco resume talks on film co-production pact Countries seek revised agreement on training, distribution Partnership produced two...